Common use of Section 125 Cafeteria Plan Clause in Contracts

Section 125 Cafeteria Plan. The Board shall establish a Section 125 Cafeteria Plan, pursuant to the rules and regulations of the Internal Revenue Service. Employees that waive their family health care and prescription insurance coverage shall be paid $5,000 per year, employees that waive their two adult health care and prescription coverage shall be paid $4,000 per year. Employees shall have a right to opt out/in of Section 125 Plan each year by following these procedures. Requests for a waiver/inclusion must be submitted on or before May 1, in the school year prior to the waiver/inclusion. Payments for the waiver shall be made in two equal installments on December 15th and June 15th of the school year for which coverage is waived.

Section 125 Cafeteria Plan. The Board shall establish a Section 125 Cafeteria Plan, pursuant to the rules and regulations of the Internal Revenue Service. Employees that waive their family health care and prescription insurance coverage shall be paid $5,000 4,000 per year, employees that waive their two adult health care and prescription coverage shall be paid $4,000 3,000 per year. Employees shall have a right to opt out/in of Section 125 Plan each year by following these procedures. Requests for a waiver/inclusion must be submitted on or before May 1, in the school year prior to the waiver/inclusion. Payments for the waiver shall be made in two equal installments on December 15th and June 15th of the school year for which coverage is waived.

Section 125 Cafeteria Plan. The Board shall establish a Section 125 Cafeteria Plan, pursuant to the rules and regulations of the Internal Revenue Service. Employees that waive their family health care and prescription insurance coverage shall be paid $5,000 per year, employees that waive their two adult health care and prescription insurance coverage shall be paid $4,000 per year. Employees shall have a right to opt out/in of Section 125 Plan each year by following these procedures. Requests for a waiver/inclusion must be submitted on or before May 1, in the school year prior to the waiver/inclusion. Payments for the waiver shall be made in two equal installments on December 15th and June 15th of the school year for which coverage is waived.

Section 125 Cafeteria Plan. The Board shall establish a Section 125 Cafeteria Plan, pursuant to the rules and regulations of the Internal Revenue Service. Employees that waive their family health care and prescription insurance coverage shall be paid $5,000 per year, employees that waive their two two‐ adult health care and prescription insurance coverage shall be paid $4,000 per year. Employees shall have a right to opt out/in of Section 125 Plan each year by following these procedures. Requests for a waiver/inclusion must be submitted on or before May 1, in the school year prior to the waiver/inclusion. Payments for the waiver shall be made in two equal installments on December 15th and June 15th of the school year for which coverage is waived.